Author: Reporter

Iranian Rial appreciates as positive signs of reform rise!

Market News

– After a series of wild and inept fluctuations of FX rates on the Iranian economy, caused USD/IRR pair to reach +19,000 level, yesterday and by the injection of some good news, the Iranian Rial appreciates and the FX market got relieved for a while when rates went south rapidly for both USD/IRR and Bahar Azadi gold coins. Analysts believe the following reasons are the main catalysts behind the other day’s downward rally:

Market News

– In an attempt to maintain the risks that brokerages firms take on their clients’ accounts, Iran SEO is to perform a pilot run of its newest risk management system from Oct 2nd, 2018. For the first step, there will be only authentication of clients’ accounts credit status and no preventing (rejection/confirmation of trades) measures. According to this new scheme, clients’ purchasable balance shall be calculated with regards to their dedicated credit amount and remaining cash balance at the end of the day.

Market News

– After the recent jumps of FX rates for the second time again, Iran Central Bank is to utilize Open Market Operation in order to maintain the falling value of Iranian Rial against foreign currencies. News has that CBI is going to allow authorized banks and exchange houses to inject FX into the market and maintain the current chaotic situation. The required resources to do as such will be supplied from the CBI currency reserves along with the export revenues of non-oil producers.

Market News

– Iranian foreign minister, Mohammad Javad Zarif, announced that the Europe Union is going to circle Iran sanctions utilizing a new mechanism consisting 7 different European central banks. This EUR only transactions account will be used for the settlement of Iran trades without any involvement from united states or US dollars. Other news reports from Federica Mogherini that this new scheme will be into effect no later than November 01, 2018.

Market News

– After the establishment of the first Iranian credit rating institute, Iran SEO is now authorizing the Iranian Debt Securities to be issued without a guarantor and based on their good credit status. This move can ease the process of debt securities issuance along with reducing the issue costs. Companies with good credit score can finance their capital need cheaper and investors would be more confident in their securities.

Market News

– In a report published by Iran SEO, Iranian brokerage firms ranked by their market share from online trades of both Tehran Stock Exchange and Iran Fara Bourse. Agah Group placed the second with a share of 8.21%. More than 27% of total trades executed in the market over the first sixth-month of 1397 (2018/192) has been carried out by Iranian online trading platforms. SEO announced that the total figure of trades turnover for 1397 H1 reached IRR 1,153,000 bn (USD 27.45 bn – USD/IRR 42,000).

Market News

– The trailing-twelve-months (ttm) figure of Iran Inflation rate reached a double-digit zone, stamped a record of 11.3% and had a growth of 1.6% contrary to the previous month. The monthly inflation rate for Shahrivar (Aug-Sep 2018) was also 5.4% which is surprising enough and made economists start worrying about the future of the Iranian economy. Prices in “Food and Beverages” along with “Toboco” experienced the most rise with 36.1% and 21.70% respectively in contrast to the same period last year.

Market News

– “Iranian Private Equity funds are going to be established soon on Iran Capital Market with the aim of investing in non-listed private firms and/or loss-making companies in order to make their financial status better and get them listed on Tehran Stock Exchange and Iran Fara Bourse trading boards.”, Said Saeed Fallah Pour, a board member at Iran SEO. Apparently, the correspondent A0A and prospectus initial drafts will be published in three weeks.

Iranian Oil Exports shows a surprising rebound in September!

Market News

– Analyses show that over the period of 15 days (from Sep1-15, 2018) Iranian Oil Exports reached a surprising figure of 1.69 barrel per day which only could be interpreted as a surprising rebound since the previous month’s reports had 1.48 bpd in the same period. Moreover, the total amount of exported oil shipments in August 2018 was 1.92 bpd. News has that India will continue its Iran oil purchases after the second wave on US sanctions hit in November, however, the settlement would be in Indian Rupee in order to be on the safe side from US dollars.

A new Sukuk Murabaha on IFB; this time for a private company!

Market News

– The Securities and Exchange Organization of Iran has granted its principal consent with regards to the issuance of a new corporate SukukMurabaha this time for a privately owned company. Padideh Gharn chemistry co. is to issue these securities with 16% coupon rate, to be paid quarterly, for its raw materials purchases. The issue size is IRR 500 bn (USD 11.94 mn) and will be matured in two years. Mellat bank will act as the guarantor to this securities.